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Insurance Article

Why Health Insurance for Senior Citizens

June 22 2013

Any individual aged 60 years or above is a senior citizen. It's a polite way to designate an elderly person. At this age most organizations, universities and public servants declare these individual as retired. However, some continue to work and others try to live a peaceful life. Most senior citizens face health issues and financial crisis. They are too old to work and maintain their health.

Government has introduced various policies to protect the sentiments of these senior citizens. Our government has always allotted funds for the medical benefits of senior citizens health insurance. However, the total expenditure in the GDP is declining every year. According to IRDA Health report 11-11-2010 Government expenditure has declined from 3.3% of GDP in First five-year plan to 1.7% in Eight five- year plan. Statistics show that the number of Senior Citizens in our country is expected to increase to 13.75% of the total population of 194.79 million people, as compared to 8.62% of 101.23 million people in the year 2010. By 2030 The cost of health care and treatments of Heart Diseases is expected to increase by more than double the present cost.

The top 5 causes for Senior citizen mortality include cardiovascular disease, cancers, chronic respiratory disease, Respiratory infections and perinatal conditions. The falling rate of rupee from `23 for $1 in the year 2008 to `59 for $1 in 2011 is a serious cause of concern.

The ever rising healthcare costs along with the declining per capita income, declining health conditions, new diseases, etc., are some of reasons highlighted in the graphic why seniors need to be insured.

These citizens have worked hard all their lives and contributed to the development of the nation and the community. Though generally ignored and sometimes shunned by the younger community but there is much to learn from them.

These citizens have worked hard all their lives and contributed to the development of the nation and the community. Though generally ignored and sometimes shunned by the younger community but there is much to learn from them.

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